Jamie Dimon is under pressure to relinquish one of his roles as chairman and chief executive of JP Morgan Chase after the bank lost $6 billion last year through a bungled trading strategy.

The proposal to split Mr Dimon’s job is expected to be on the ballot at JP Morgan’s annual shareholder meeting later this year. A similar proposal has been put forward at every meeting for at least the past eight years and attracted the support of 40 per cent of investors in 2012.

The American Federation of State, County and Municipal Employees pension fund said it would back